Regulation – Page 37
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NewsAon-WTW merger allows for ‘combination of complementary solutions’ – GlobalData
The data and analytics firm disagrees with the US Department of Justice’s stance that the acquisition would result in higher prices, reduced quality and less competition
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FeaturesBriefing: Test case was tip of the iceberg as insurers continue to wade through BI claims
Time flies when your claims function is inundated with business interruption claims – this week marks a year since the FCA’s initial test case hearing
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FeaturesIn Focus: Broker litigation ‘inevitable’ one year on from FCA’s BI test case
Brokers are ’still squeaky about whether they advised their customers correctly about the products they were buying’
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NewsUS Department of Justice files lawsuit against Aon-WTW merger
Attorney general says the legal action displays the department’s ‘commitment to stopping harmful consolidation’
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NewsFlooding is ‘greatest natural disaster’ risk in UK – Flood Re and ABI
In a joint report, the ABI and Flood Re underline the importance of maintaining flood defences
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NewsRegulator CLC launches call for evidence on the operation of its Participating Insurers Agreement
The evidence will help shape a formal consultation later this year for potential improvements in professional indemnity insurance arrangements
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NewsInsurers have paid more than £750m in interim and final BI payments to date
The FCA calculates that 20,347 policyholders out of 37,702 who have had BI claims linked to the test case action accepted have received at least an interim payment so far
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NewsAXA France offers €300m BI settlement to 15,000 restaurant clients
Settlement offers are expected to be available between 21 June and 20 September 2021
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NewsRSA pays over £80m for UK Covid claims to date
The insurer’s chief executive for UK and international admits that ‘perfect information’ is not needed ‘to make part payments’
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FeaturesBriefing: Industry ‘nervous’ about potential ‘avalanche of claims’ missing from OIC portal
At long last, the Official Injury Claim portal is here. Insurance Times’s Fraud Charter attendees reveal current concerns with its functionality amid low claims notifications
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NewsCarpenters Group calls on government as Google ad spoofing still an issue
The law firm has been in discussion with several government ministers about expanding the scope of the Online Safety Bill
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NewsUK motor insurers expected to make losses in 2021 and 2022
Premiums are set to drop by 6% this year due to changes in car usage and the whiplash reforms
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NewsLondon Market Group calls on government and insurance industry to work together post-Brexit
The trade body has launched a five-point plan to support the UK’s competitive position after leaving the European Union
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Sponsored ContentUsing data to address underinsurance post-pandemic – Aviva
Many businesses have changed the way they operate because of restrictions caused by the Covid-19 pandemic,yet few have updated their insurance to reflect those changes, says Tony Leonard, Aviva’s head of trading, west region
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NewsCovid-hit cash strapped SMEs borrow more to fund business insurance – Premium Credit
The premium finance provider is urging all SMEs to consider finance options as they plan for the future post-pandemic
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NewsGuidewire backs draft Online Safety Bill extension to include financial scams
Guidewire’s chief innovation officer says that cumulatively, financial scams risk the reputation of the industry
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News AnalysisMIB establishes working group to understand hybrid injury claims
The working group has a shared vision to avoid any detriment to injured claimants
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NewsAviva sued for alleged loss of income after Covid office closure
The law firm claims that Aviva owes them money for loss of income due to the Covid-19 pandemic
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FeaturesPrice walking proposals ‘eclipsed’ fair value impact on SME insurance
Brokers still have a lot to discuss ahead of implementing the FCA’s proposals on fair value this year, including considerations around commissions
